Bulls carried the day on Friday, clearing a path to a least 2809.75. Although the upside penetration of the 2745.88 ‘midpoint pivot’ was slight, it should be sufficient to keep the buying momentum going in the days ahead. There are many ways to get long for the ride, but the one-size fits all recommendation would be to buy a pullback to the green line (2714.00), stop 2680.75. This implies entry risk of about $1700 per contract, and so I am not recommending the trade to the faint of heart or those with accounts under $25,000. But the initial risk can be reduced to perhaps $50-$75 theoretical using alternative entry set-ups such as ‘camouflage’ or ‘counterintuitive’. Stay close to the chat room if you’re interested, since many who frequent the room are familiar with these tactics. They can be useful for circumventing the possibility that the futures will move higher without pulling back to the green line.
